FRANKFORT, Ky. – Distributor of optical products ABB Optical plans to invest $27 million in an expanded facility in Florence, which will preserve 50 jobs and create 173 additional positions averaging $15 per hour with benefits.
State officials approved economic development incentives for the project in Frankfort at a monthly Kentucky Economic Development Finance Authority board meeting.
To help attract ABB Optical to Northern Kentucky, the KEDFA board approved $2 million in tax breaks over the next 10 years if the company fulfills its plans to invest and create full-time, permanent jobs.
ABB Optical is the nation’s premier, independent distributor of optical products, which include contact lenses, ophthalmic lenses, frames and sunglasses, accessories and contact lens solutions. The company’s proposed move to Florence is to expand their capacity and to solidify its competitive position to better serve its customers.